High disposable income, young working population and a large base of middle class households has impelled the development of residential sector in India and provided impetus to the market for elevators as well.
The tall towers that dominate the scene in the metros are an indication of the way all cities and towns are going to evolve into, a world that is highly dependent on the vertical transportation industry to make you for our increasing demands on the limited land space.
Today, vertical transportation is not a luxury but a necessity. Evolutions in expectations and concepts of our home, work and lifestyle spaces influence its growth. Convenience, comfort and safety are just some of the benefits sought technological innovations, aesthetic designs and growing popularity are facets that are adding impetus to the industry’s boom.

The elevator market is forecast to grow at a
CAGR of 14.3% and reach 103,000 units by
2018.

The global market for elevators is estimated
at around 750,000-800,000 units with China
accounting for 65% in 2013. India comes in
next at 52,600 units and the Indian marketis forecast to cross 100,000 mark by 2018.
The escalator market in India is estimated at
about 1,800 units per annum.

An average annual demand of 270 elevators
per million population, in the 30 cities
selected for analysis.

The Indian elevator market has grown at
13.3% per annum in the last 12 years and
in 2013 was estimated at 52,600 units,
excluding escalators.